Russell Investments Group Ltd. trimmed its holdings in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 64.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,452 shares of the bank’s stock after selling 17,209 shares during the period. Russell Investments Group Ltd.’s holdings in Texas Capital Bancshares were worth $782,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $119,000. Cerebellum GP LLC acquired a new position in Texas Capital Bancshares during the third quarter valued at approximately $172,000. Stevens Capital Management LP acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $378,000. Oakbrook Investments LLC acquired a new position in Texas Capital Bancshares during the third quarter valued at approximately $442,000. Finally, Alps Advisors Inc. acquired a new position in Texas Capital Bancshares during the third quarter valued at approximately $463,000.
In other news, CEO C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, October 19th. The stock was bought at an average price of $67.59 per share, with a total value of $202,770.00. Following the completion of the acquisition, the chief executive officer now owns 90,880 shares in the company, valued at approximately $6,142,579.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vince A. Ackerson purchased 2,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, October 19th. The shares were purchased at an average cost of $67.00 per share, with a total value of $134,000.00. Following the acquisition, the insider now owns 28,485 shares of the company’s stock, valued at approximately $1,908,495. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. TheStreet cut shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research report on Tuesday, November 20th. Raymond James reduced their price target on shares of Texas Capital Bancshares from $105.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, October 18th. UBS Group upgraded shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $76.00 to $70.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Compass Point upgraded shares of Texas Capital Bancshares to a “buy” rating and dropped their price objective for the company from $103.00 to $84.00 in a research note on Thursday, November 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $96.24.
Texas Capital Bancshares stock opened at $55.41 on Thursday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.83. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.29 and a quick ratio of 1.21. Texas Capital Bancshares Inc has a 12 month low of $53.76 and a 12 month high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.07). The business had revenue of $257.69 million during the quarter, compared to analyst estimates of $257.14 million. Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. During the same period in the prior year, the firm earned $1.12 EPS. On average, analysts anticipate that Texas Capital Bancshares Inc will post 6.01 earnings per share for the current fiscal year.
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Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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